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ORACLE’S BIG BET: New campus expected to transform part of South Austin

For 16 months, Oracle’s new corporate campus has been quietly taking shape on prime waterfront property southeast of downtown Austin.

The sleek five-story building will have more than half a million square feet of office space that initially will house 3,000 tech workers, many of them young professionals.

Along with its original land purchase, Oracle bought a brand new apartment complex called Azul, just steps from its new office building, as a housing option for its employees. The complex, with 295 units, was valued at $76.6 million this year by the Travis Central Appraisal District.

The apartment acquisition marked the first time Oracle bought an apartment building on an Oracle campus.

The campus, an investment of hundreds of millions for the Redwood Shores, Calif.-based software company, is expected to be transformative for a part of town along East Riverside Drive that is rapidly gentrifying with hundreds of new luxury housing units.

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